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Equivalent Units and Related Costs; Cost of Production Report; Entries Dover Chemical Company manufactures specialty chemicals by a series of three processes, all materials being introduced in the Distilling Department. From the Distilling Department, the materials pass through the Reaction and Filling departments, emerging as finished chemicals. The balance in the account Work in Process-Filling was as follows on January 1: Work in Process-Filling Department (4,700 units, 60% completed): Direct materials (4,700 x $14.10) $66,270 Conversion (4,700 x 60% x $9.10) 25,662 $91,932 The following costs were charged to Work in Process ---Filling during January: Direct materials transferred from Reaction Department: 60,600 units at $13.80 a unit $815,280 Direct labor 293,880 Factory overhead 282,348 During January, 60,100 units of specialty chemicals were completed. Work in Process-Filling Department on January 31 was 5,200 units, 90% completed. Required: 1. Prepare a cost of production reportafora the Filipe Renamentaforalananlanamunaszeretem. If required, round your cost per equivalent unit answers to two 1. Prepare a cost of production report for the Filling Department for January. If an amount is zero, enter "0". If required, round your cost per equivalent unit answers to two decimal places. Dover Chemical Company Cost of Production Report-Filling Department For the Month Ended January 31 Unit Information 4,700 Units charged to production: Inventory in process, January 1 Received from Reaction Department 320 66,270 Total units accounted for by the Filling Department Units to be assigned costs: Whole Units Equivalent Units Direct Conversion Materials Inventory in process, January 1 Started and completed in January Transferred to finished goods in January Inventory in process, January 31 Total units to be assigned costs Cost Information Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for January in Filling Department Total equivalent units Cost per equivalent unit Costs assigned to production: Total Direct Materials Conversion Inventory in process, January 1 Costs incurred in January Total costs accounted for by the Filling Department Costs allocated to completed and partially completed units: Inventory in process, January 1 balance To complete inventory in process, January 1 Cost of completed January 1 work in process Started and completed in January Transferred to finished goods in January Inventory in process, January 31 Total costs assigned by the Filling Department 2. Journalize the entries for (1) costs transferred from Reaction to Filling and (2) the cost transferred from Filling to Finished Goods. If an amount box does not require an entry, leave it blank. (1) Work in Process-Filling Department Work in Process-Reaction Department v (2) Finished Goods Work in Process-Filling Department Feedback 3. Determine the increase or decrease in the cost per equivalent unit from December to January for direct materials and conversion costs. If required, round your answers to two decimal places Amount Increase or Decrease Decrease Change in direct materials cost per equivalent unit Increase Change in conversion cost per equivalent unit 4. Discuss the uses of the cost of production report and the results of part (3) The cost of production report may be used as the basis for allocating product costs between Work in Process and Finished Goods . The report can also be used to control costs by holding each department head responsible for the units entering production and the costs incurred in the department. Any differences in unit product costs from one month to another, such as those in part (3), can be studied carefully and any significant differences investigated Feedback
